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GB Credit Partners Agents $73MM Facility to Silver Airways

February 06, 2014, 07:56 AM
Filed Under: Aviation

GB Credit Partners, the investment management affiliate of Gordon Brothers Group, announced it has acted as the administrative agent for a $73 million facility to Silver Airways supported by the company’s aircraft and other assets. Owned by Victory Park Capital, Silver Airways is based in Fort Lauderdale, Florida and operates almost 200 daily scheduled flights to/from 46 gateways in Florida, the Bahamas, Georgia, Alabama, Mississippi, Virginia, West Virginia, Pennsylvania, New York and Ohio.

Victory Park Capital launched Silver Airways as a new airline in May 2011 following its acquisition and restructuring of a previously defunct company. The financing provided by GB Credit Partners will allow Silver Airways to further grow and manage their business.

“Due to GB Credit Partners’ deep understanding of the airline industry, they were very responsive and were able to structure a facility that provided additional sponsor liquidity and operational flexibility,” said Mathew Ray, Victory Park Capital Partner.

GB Credit Partners has experience in over 25 industries including aerospace, business services, energy, high technology and transportation.

Lawrence Klaff, managing director of GB Credit Partners, added, “We are thrilled to be able to contribute to Silver Airways’ growth with this financing. Based on our aviation expertise and the wide recognition Silver Airways has achieved throughout the industry, the company holds much promise and we are eager to watch it reach new heights as it expands the business.”

GB Credit Partners, the investment management affiliate of Gordon Brothers Group, originates, structures and invests in private market debt.  Debt investments are made in the form of senior, unitranche, second lien or mezzanine loans ranging from $10 to $50 million to middle-market companies in need of capital to effect strategic change.  Investments are made across 25 industries within five majors sectors: consumer, commercial & industrial, financial services, intellectual property and real estate.

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